qualified New York Liberty Zone property
Defined in 1 place of the United States Code.
For purposes of this subsection, the term “qualified New York Liberty Zone property” has the meaning given such term by subsection (b)(2).
Source
- 2002–200526 U.S.C. § 1400LInternal Revenue Code · Tax benefits for New York Liberty Zone · in this section
For purposes of this subsection, the term “qualified New York Liberty Zone property” has the meaning given such term by subsection (b)(2), determined without regard to subparagraph (C)(i) thereof.
Source
- 2005–present26 U.S.C. § 1400LInternal Revenue Code · Tax benefits for New York Liberty Zone · in this section
The term “qualified New York Liberty Zone property” means property—
(i) (I) which is described in section 168(k)(2)(A)(i), or
(II) which is nonresidential real property, or residential rental property, which is described in subparagraph (B),
(ii) substantially all of the use of which is in the New York Liberty Zone and is in the active conduct of a trade or business by the taxpayer in such Zone,
(iii) the original use of which in the New York Liberty Zone commences with the taxpayer after September 10, 2001,
(iv) which is acquired by the taxpayer by purchase (as defined in section 179(d)) after September 10, 2001, but only if no written binding contract for the acquisition was in effect before September 11, 2001, and
(v) which is placed in service by the taxpayer on or before the termination date.
Source
- 2002–present26 U.S.C. § 1400LInternal Revenue Code · Tax benefits for New York Liberty Zone · in this section